Thinking of Insolvency in Queensland?
Insolvency in Queensland is on the rise. In 2019, there were 7498 corporate insolvencies reported throughout Australia. Brisbane and the Gold Coast Queensland made up 22% of 1,646 companies that declared themselves bankrupt in Australia that financial year. (Source: ASIC). Since Covid and the economic downturn, these figures have risen further.
Insolvency Brisbane Gold CoastInsolvency Brisbane Gold Coast
Insolvency Brisbane Gold Coast Sunshine QLD
The top five industries in which insolvencies occurred in Brisbane Gold Coast were:
- Business and Personal Services
- Construction
- Accommodation and Food Services
- Retail Trade
- Transport, Postal & Warehousing
There are many reasons why a company would declare itself insolvent. Such alarm bells will be triggered for the following reasons:
- Creditors who do not wish to extend your debt facility with you
- Dwindling sales as well as the customer base that is falling
- Suppliers are cutting off deliveries as they wait for pending payments
- Being chased up by the ATO for failure to pay tax or superannuation liabilities
Need more information about Insolvency? Click here
“I help people forget about their debt worries, through insolvency and bankruptcy by fixing what’s broken. It doesn’t matter if you’re going through financial difficulty or want the peace of mind from knowing your finances are under control; I’m here for all my clients to help plan a path to financial freedom.”
Andrew Bell
Expert Insolvency Advisor
Andrew’s clients come to him because they know they are getting the best service possible. With the support of the expert team at the Liquidation Advisory Centre, he has been helping people and company directors make intelligent financial choices and advised on different options to achieve business financial stability for over 30 years.
Get a complimentary first consultation by calling 1300 887 210 to find out about your options and receive expert advice on Business Insolvency and Business Liquidation.